The study involved four major activities in estimating the current size of the global rehabilitation equipment market. Exhaustive secondary research was done to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing values with industry experts across the value chain through primary research.
According MarketsandMarkets Research – The Global Rehabilitation Equipment Market is projected to reach USD 16.6 billion by 2025 from USD 12.9 billion in 2020, at a CAGR of 5.2%.
Market Size Estimation;
Both top-down and bottom-up approaches were used to estimate and validate the total size of the global rehabilitation equipment market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets have been identified through extensive secondary research.
- The revenue generated from the sale of rehabilitation equipment by leading players has been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
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Therapy equipment segment is projected to grow at the highest CAGR during the forecast period.
Based on product, the rehabilitation equipment market is segmented into therapy equipment, daily living aids, mobility equipment, exercise equipment, and body support devices. The therapy equipment segment is projected to register the highest growth rate during the forecast period. The growth of this segment is primarily attributed to the increasing incidence of various injuries and chronic conditions.
Based on end user, the home care settings segment is projected to grow at the highest CAGR during the forecast period.
Based on end user, is segmented into hospitals and clinics, rehabilitation centers, physiotherapy centers, home care settings, and other end users. The home care settings segment is projected to grow at the highest CAGR during the forecast period. The growth of this end-user segment can be attributed to the increasing focus on reducing healthcare costs and government initiatives to promote home healthcare. In addition, healthcare spending for home services has grown significantly, reflecting an increase in the use of home-based services.
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Europe accounted for the largest share of the Rehab Equipment Market. Factors such as supportive government initiatives for safe patient handling, rising geriatric population, and the high burden of chronic conditions are driving the growth of the European market. On the other hand, the market in the Asia Pacific is projected to register the highest CAGR during the forecast period. This can be attributed to the growing prevalence of chronic conditions, increasing venture capital investments, availability of technologically advanced products, and strategic expansion of market players in this region.
Leading Key Players in the Worldwide Industry:
Prominent players in the Rehabilitation Equipment Market includesInvacare Corporation (US), Medline Industries, Inc. (US), Hill-Rom Services Inc. (US), Dynatronics Corporation (US), Drive DeVilbiss Healthcare (US), DJO Global, Inc. (US), Carex Health Brands, Inc. (US), Roma Medical (UK), Caremax Rehabilitation Equipment Co., Ltd. (China), GF Health Products, Inc. (US), Etac AB (Sweden), Joerns Healthcare (US), Prism Medical UK (UK), EZ Way, Inc. (US), TecnoBody (Italy), Proxomed (Germany), Handicare (Sweden), Sunrise Medical (Germany), Enraf-Nonius (Netherlands), and Antano Group (Italy).
Hill-Rom Services Inc. (US) provides a wide range of rehabilitation equipment such as patient lifts, medical beds, and accessories. The company majorly focuses on R&D investments for the continuous development and upgradation of its products. In 2018, the company invested USD 0.14 billion in R&D activities. The company’s constant focus on innovation helps it in enhancing its product offerings and marking its presence in the rehabilitation equipment market.